Thursday Tools: 6 Best Money Making Apps of 2015

6 Best Money Making Apps of 2015

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Many people do not realize that they can use their smartphone to make money. There are quite a few money making apps available that can help you generate additional income, with some people earning thousands of dollars annually from their activities on their smartphones. Most of the best money making apps available help users with investing their savings into low risk stocks and EFTs. Here are six of the best money making apps of 2015 to use to invest for the future.

Acorns

Acorns, an investing app for iPhone and Android, lets users invest in one of the five diversified portfolios developed by Nobel Prize-winning economist Harry Markowitz available through the app. You can start as little as $5, invest a lump sum, or set up automatic recurring deposits through a bank account. You can also have Acorns round up the spare change from your debit and credit card purchases and invest it in the portfolio for you.

Betterment

The Betterment app lets you build wealth by investing in customized, diversified portfolios of stock and bond ETFs. Using the app, you can check the balance and returns of your investments in real time, make deposits and withdrawals at any time, and review your investing goals and account activity. The app doesn’t charge for trades or transactions, just a low management fee based on your total account balance.

Wealthfront

With the Wealthfront app, you can create a personalized investment plan for a diversified portfolio that is automatically rebalanced according to your recorded preferences. The accounts have a minimum requirement of $500 and the first $10,000 is managed entirely for free. The automated investment service monitors your investment portfolio around the clock for triggers to buy or sell based on your preferences.

Motif

The Motif app lets users invest in more than 150 professionally built investment portfolios containing up to 30 stocks or ETFs that follow a particular investment strategy. Users can buy and sell directly from the app, trade single stocks or ETFs real-time in shares or in dollar amounts, and act on rebalance updates with a few swipes of a finger. Users can also browse through thousands of investment portfolios created by other users to get ideas for their own portfolio.

Kapitall

The Kapitall app makes investing as simple as clicking and dragging an icon. The app uses an intuitive, user-friendly investing platform that have logos in place of ticker symbols and easy-to-use tools. You invest in a company by dragging the company’s icon into your live portfolio. Commissions run $7.95 and you can practice first using a $100,000 “practice portfolio” provided by the app.

Robinhood

The Robinhood app is a free download geared towards those just starting out in investing. You can buy and sell stocks for free, review market data in real-time, and build a personalized watchlist. You can also place market, limit, stop loss, stop limit, and good till canceled orders using the app. The app does not charge for trades and makes money by accruing interest off customers’ noninvested cash balances. Robinhood Financial is a member of the Securities Investor Protection Corporation (SIPC), which protects the securities of customers of its members up to $500,000.

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